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Mortgage Calculator &
Closing Costs: Indianapolis, IN

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Indianapolis, Indiana.

Median Home Price
$255K
Population
888K
Avg Monthly Rent
$1,220
Property Tax Rate
0.84%
Indianapolis vs Indiana Median
The median home price in Indianapolis is $255,000, which is 6% above the Indiana state median of $240,000.

Mortgage Calculator — Indianapolis, IN

Pre-filled with Indianapolis median home price and Indiana tax/insurance rates. Adjust for your property.

$
$51,000
%
%
years
IN avg
%
$
Monthly Payment (PITI)
$1,610
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$1,289
per month
Taxes & Insurance
$321
per month
Total Interest Paid
$260K
over 30 years
Total Loan Cost
$464K
all payments
Payment Breakdown
Loan Amount$204,000
Principal & Interest$1,289
Property Taxes$179
Homeowners Insurance$142
Total Monthly PITI$1,610

Closing Costs — Indianapolis, IN

Estimated closing costs based on Indiana rates and fees applied to Indianapolis prices.

$
%
Indiana: Avg closing costs 1.1% of price. Transfer tax: 0%.
Estimated Closing Costs
$8,653
3.4% of purchase price
Lender Fees
$2,261
origination, underwriting
Third-Party
$2,725
appraisal, title, inspection
Government Fees
$0
transfer taxes, recording
Prepaids + Escrow
$3,667
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$1,836
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,575
Recording Fee$150
Prepaid Taxes (3 mo)$536
Prepaid Insurance (12 mo)$1,700
Prepaid Interest (15 days)$613
Escrow Reserves$819
Total Closing Costs$8,653

Buying a Home in Indianapolis, Indiana

The median home price in Indianapolis is $255,000, 6% above the Indiana state median of $240,000. With a population of 887,642, Indianapolis is a major metro area where home prices reflect strong demand and local economic factors.

Property taxes in Indiana average 0.84% annually. This moderate property tax rate means a $255,000 home in Indianapolis would carry roughly $179/month in property taxes. Homeowners insurance in Indiana runs approximately $1,700 per year. This is within the normal range nationally.

Average rent in Indianapolis is $1,220/month. The price-to-rent ratio in Indianapolis is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.

Indianapolis presents moderate affordability. The $255K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

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